Haydale logoLast month we reported that UK's Haydale is planning to raise £10 million (about $16.6 million) via an IPO on the UK's AIM sometimes in April. Yesterday the company officially announced its intention to float on the AIM on April 14.

Haydale intends to use the money they will raise to expand and broaden engineering, production, technical and business development teams to support product development. Earlier reports suggested that the market value of the company will probably be in the low £30 million range ($50 million).

Haydale is developing and marketing carbon materials under the HDPlas brand. The company currently focuses on graphene, CNTs and zinc nanomaterials. The company also developed metal-free graphene-based inks. In October 2013 we posted an article explaining Haydale's business and technology.

In the past, Haydale raised over $5 million in funding from private investors. The company's revenue are still low (under $1 million) - but growing quickly. Haydale invested over $1.5 million in their "nano safe" production facilities.